We definitely applied for Social Security benefits for Hubster this morning.
On SS he'll be getting about an $185 a month increase over unemployment. A raise! Not near what he was making last year but a raise over what we've had coming in this year. Unemployment will stop (at least we believe it will). He's to call and double-check on that. If not, it runs until Dec 24th.
This gives some extra moolah to the budget to help him get some kind of health insurance.
To facilitate that we are also going ahead this week and starting his carpenter's pension. It'll be small (decidely not the 80% of final salary he was promised for years!) and we are likely going Joint Life on it so it should continue to me for my lifetime at the same rate as we'll draw now if something were to happen to him. If we just went on his lifetime it would be more in the check now. But I'm younger by a good bit and likely will be the longer liver.
Once this starts he'll be able to get health insurance thru our state approved insurance program and PBGC (Pension Benefit Guaranty Corp - they took over the pension plan when his company went kaput) will help offset the cost of that approved insurance somewhere in the range of 65-80%.
If we can do that until he's eligible for Medicare it should all work out. At least that's the current plan. With the pension & SS increase over unemployment there should be room in the budget to cover this healthcare expense.
At any rate, SS checks should start within the next few days to a couple of weeks the lady said. She was very nice and quite helpful really. There were a gazillion people there but we had the first interview of the day and were called first out of the crowd because we had an appointment scheduled.
I stressed over this interview more than was reasonable. Just silly really, but I was - woke during the night, triple-checking to see that I had all the needed paperwork, then woke early before the alarm and rechecked it. What a goose! I seldom get that worked up about anything.
I'm unclear as to when the carpenter's union pension check will start arriving - somewhere in the 1-3 month range after they receive the paperwork.
SS will be a direct deposit.
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@boomeyers - hahaha! I read somewhere yesterday, "if you think healthcare is bad now? Wait until it's FREE!"
@cptacek - yes, we had planned all along to have the house paid off at the latest on the month before he took SS. As events happened, with his plant shutting down permanently, having all our debts paid off before starting the 'Golden Years' has really eased the stress that could have happened at this time. Only owing on the house at the time of his layoff has made this past year considerably easier than if we were heavily indebted. Paying the house off took a good chunk of change but it will make going forward easier on this woman's mind. On my list of five today is the objective of at least laying out the beginning framework of a new possible budget. Staying out of debt may prove as much fun (oh hold me back) as getting out of it was! Viva La Vigilence!